Short Interest in Pixelworks, Inc. (PXLW) Expands By 30.9%

Pixelworks, Inc. (NASDAQ:PXLW) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 669,650 shares, an increase of 30.9% from the February 15th total of 511,444 shares. Based on an average daily volume of 747,174 shares, the days-to-cover ratio is presently 0.9 days. Approximately 2.9% of the company’s stock are short sold.

Pixelworks (NASDAQ:PXLW) opened at $4.57 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.98 and a quick ratio of 1.72. The firm has a market cap of $159.61, a PE ratio of -35.15 and a beta of 0.69. Pixelworks has a 52 week low of $4.05 and a 52 week high of $7.05.

Pixelworks (NASDAQ:PXLW) last released its earnings results on Thursday, February 15th. The semiconductor company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $18.40 million for the quarter, compared to analysts’ expectations of $18.08 million. Pixelworks had a negative net margin of 5.18% and a positive return on equity of 12.72%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 earnings per share. equities research analysts anticipate that Pixelworks will post -0.06 EPS for the current year.

In other news, Director Daniel Heneghan purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were acquired at an average cost of $4.33 per share, for a total transaction of $86,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PXLW. Teachers Advisors LLC purchased a new position in Pixelworks in the second quarter valued at about $229,000. TIAA CREF Investment Management LLC purchased a new position in Pixelworks in the second quarter valued at about $345,000. Northern Trust Corp boosted its stake in Pixelworks by 563.2% in the second quarter. Northern Trust Corp now owns 314,617 shares of the semiconductor company’s stock valued at $1,444,000 after acquiring an additional 267,181 shares during the last quarter. Vanguard Group Inc. boosted its stake in Pixelworks by 16.1% in the second quarter. Vanguard Group Inc. now owns 1,183,883 shares of the semiconductor company’s stock valued at $5,435,000 after acquiring an additional 163,923 shares during the last quarter. Finally, State Street Corp purchased a new position in Pixelworks in the second quarter valued at about $1,376,000. Hedge funds and other institutional investors own 39.69% of the company’s stock.

Several research firms recently weighed in on PXLW. Zacks Investment Research upgraded shares of Pixelworks from a “hold” rating to a “strong-buy” rating and set a $6.25 price target on the stock in a report on Thursday, December 7th. Roth Capital restated a “buy” rating and set a $8.00 price target on shares of Pixelworks in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $6.81.

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Pixelworks Company Profile

Pixelworks, Inc designs, develops and markets video and pixel processing semiconductors, intellectual property cores, software and custom application specific integrated circuit (ASIC) solutions for digital video applications. The Company is engaged in the design and development of integrated circuits (ICs) for use in electronic display devices.

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